Velocipede / Snowpede Borrow Bank
This sample marketing plan was created with Marketing Plan Pro software.
Velocipede/Snowpede's marketing budget is limited so the campaign with be relatively simple. Three avenues of advertising will be used, the first will be with the Chamber of Commerce's publication for out of towners, the second will be with the local outdoor journal. The last form of traditional advertising will be a Yellow Page advertisement.
Velocipede/Snowpede will also have a Web page that will detail all aspects of the business to provide people, particularly people from out of town, with information about their service offerings.
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Velocipede/Snowpede Borrow Bank's mission is to provide customers with bicycle and snowshoe rentals, as well as suggested journeys. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers.
Velocipede/Snowpede Borrow Bank will target two distinct market segments:
Out of towners: these people are passing through Eugene and are either cycling enthusiasts without their bikes or visitors who would like to try cycling.
Locals: this group of people live in Eugene and would like to try cycling/snowshoeing so they will go to a rental facility and rent the equipment. There will be larger percentage of locals renting snowshoes relative to bicycles. This is primarily because snowshoes are more unusual and it is less common for people to own their own snowshoes than for people to own their own bicycles.
Velocipede/Snowpede will position themselves as the premier destination for bicycle and snowshoe rentals. Velocipede/Snowpede is the premier place because of:
The single objective is to position Velocipede/Snowpede as the premier bicycle and snowshoe rental facility in Eugene, commanding a majority of the market share in three years. The marketing strategy will seek to first create customer awareness regarding their services offered, develop the customer base, and work toward building customer loyalty and referrals.
The message that Velocipede/Snowpede will seek to communicate is that they offer the finest rentals and service. This message will be communicated through a variety of methods. One method will be advertisements in the Chamber of Commerce publication, a publication that is targeted to visitors of Eugene. Another method is advertisements in the local outdoor journal. This publication is read by many outdoor enthusiasts in Eugene who are looking for things to do in the woods. A third form of advertisements will be in the Yellow Pages.
Velocipede/Snowpede will also communicate their message using a detailed, robust website. This source of information will be available to anyone with an Internet connection.
Velocipede/Snowpede's marketing mix is comprised of the following approaches to pricing, distribution, advertising and promotion, and customer service.
During the initial phase of the marketing plan development, several focus groups were held to gain insight into a variety of prospective customers. These focus groups provided helpful insight into the decision making processes.
An additional source of dynamic market research is a feedback mechanism based on a suggestion card system. The suggestion card has several statements that customers are asked to rate in terms of a given scale. There are also several open ended questions that allow the customer to freely offer constructive criticism or praise. Velocipede/Snowpede will work hard to implement reasonable suggestions in order to improve their service offerings as well as show their commitment to the customer that their suggestions are valued.
The last source of market research is competitive analysis. Velocipede/Snowpede will patronize competitors regularly to have timely information about their service offerings.
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